Canopy Growth Corp. says an Ontario court has approved the sale of its BioSteel sports drink business in a pair of deals.
Financial terms of the agreements were not immediately available.
Canopy Growth chief financial officer Judy Hong says the sales process identified two qualified buyers for the BioSteel brand and assets.
OBJ360 (Sponsored)
Last month Ottawa Salus launched “Opening Doors to Dignity,” a $5-million campaign to construct a 54-unit independent living building on Capilano Drive. Set to open in late 2025, this innovative
Philanthropy can be about more than doing something positive for others. It can also be a way of righting old wrongs. When Patricia Saputo was in her early 20s, she
Hong added that the anticipated proceeds from the sales are expected to improve Canopy Growth’s balance sheet.
The first deal covers the sale of BioSteel Canada to DC Holdings Ltd., while a second agreement includes the sale of the BioSteel Manufacturing business to Gregory Packaging Inc.
Canopy put BioSteel up for sale when the sports drink business was placed under court protection from creditors under the Companies’ Creditors Arrangement Act in September.